Baker Speaks at Olympic Coin Ceremony

TREASURY NEWS

Department of the Treasury e Washington, D.C. e Telephone 566-2041

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Remarks by
Secretary of the Treasury
James A. Baker, III
at the First Strike Ceremony
1988 United States Olympic Coins
United States Mint
Denver, Colorado
May 2, 1988

Thank you, Kay [Ortega]. I’m just delighted to finally meet
this distinguished group of American athletes. You are
champions, and you inspire all of us with your determination and
your skill. You represent our American diversity and our passion
for excellence. You embody the Olympic motto: "Citius, Altius,
Fortius" -- "Faster, Higher, Stronger."

Americans respond to you with enthusiasm and affection
because you represent something that binds all of us together --
our tradition of meeting challenges and overcoming obstacles.
Your fans all over our great country feel intimately involved in
your efforts -- the hard training, the sacrifices you and your
families have made along the way, the discipline and endurance
you’ve achieved, and -- perhaps most of all -- your joy in, ~
winning.

That’s what’s so great about the Olympic Coins that we are
about to strike. They give those who own them a sense of being
members of the team, a sense of sharing in its trials and in its
triumphs. And at virtually no cost to the taxpayer, the 1988
Olympic Coins give each of us the opportunity to support
America’s athletes.

You know, many other countries underwrite the training of
their young athletes. But that has never been the American

approach. Here it is that great engine of freedom -- the
nate energies of private citizens -- that powers our
efforts.

B-1395

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Like our athletes, we have set an ambitious standard for
ourselves. We hope to meet or even exceed a goal of $49 million
in selling these Olympic Coins. That income will be the largest
single source of contributions to the U.S. Olympic Committee this
year. Congress has mandated that these funds are to be dedicatec

to one use only -- the training of present and future Olympic
athletes.

The proceeds of the sale of the coins will have both
short-term and long-term benefits. First of all, we'll all get
a lot of pleasure from seeing our investments in these coins
returned in gold, silver, and bronze medals this summer.

But that’s just the beginning. The performance and the
example of the Olympic athletes have a continuing effect on all
of us. From the time when poets wrote of the first Olympic
feats, right up to this year’s Winter Games, we have drawn

inspiration from your strength, your endurance, and your good
sportsmanship.

And that leadership won’t end when the Summer Games are over.
We will continue to count on your leadership in American society
in the years to come. Your achievements fire us up to stretch
just a little further, to try just a little harder, and to attain
just a little more.

It’s that spirit of American enterprise and stamina that
these coins symbolize. So let’s get right down to business and
get the process started. How about it?

And now, Therese [Andrews], over to you there at the newly
re-designated West Point Mint. And let me just take a second
here to congratulate those of you there on West Point’s new
status. Are you all set?

Thank you, all, very much.